Business
Trading Statement and Operational Update
Kistos Holdings plc provided a trading and operational update, announcing a binding agreement to acquire a 5% working interest in Block 9 and a 20% working interest in Blocks 3 & 4 in Oman, expected to add 25.6 mmboe of 2P reserves valued at approximately $5.80/boe. Proforma 2025 exit production was 22,700 boepd, with actual production averaging 9,000 boepd, and year-end proforma net 2P reserves estimated at 49 mmboe. As of December 31, 2025, the company held $199 million in cash, including near-cash, and reported adjusted net debt of approximately $81 million. Operational highlights include improved production efficiency in the Netherlands and progress on the Balder area development, with plans for Balder Phase VI and Balder Next. Disclaimer*
About this update from Kistos Holdings Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION 2014/596/EU, WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) (UK MAR). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n8 January 2026\n \n\n \n \nKistos Holdings plc\n \n(\"Kistos\" or \"the Company\")\n \n \nTrading Statement and Operational Update\n \n \nKistos (LON: KIST), an independent energy company focused on unlocking value within its existing portfolio and through value-accretive M&A, is pleased to provide the following unaudited trading and operational update ahead of its results for the year ended 31 December 2025.\n \nValue accretive M&A activities\n \n· Kistos entered into a binding agreement to acquire a 5% working interest in Block 9 (Occidental as operator) and a 20% working interest in Blocks 3 & 4 (CCED as operator) in Oman from Mitsui E&P Middle East B.V. (the \"Oman Acquisition\"), with an effective date of 1 January 2025 (the \"Effective Date\"), as announced on 9 December 2025. Completion of the Oman Acquisition is subject to customary governmental and regulatory approvals and partner consents. Further announcements will be provided in due course, upon completion of the Acquisition, including any information on completion mechanics and the financial impact of the transaction on the Company.\n· Expected to add 25.6 mmboe (operator estimates) of 2P reserves net to Kistos as at the Effective Date, with a valuation of approximately $5.80/boe of 2P reserves.\n \nProduction and reserves\n \n· 2025 proforma(1) exit production rate was 22,700 boepd, including Oman interests and augmented by the ramp-up of two of the six Balder Phase V wells\n· Actual production for 2025 averaged 9,000 boepd at the top end of guidance (8,000 - 9,000 boepd)\n· Year-end proforma net 2P reserves estimated to be 49 mmboe (Company estimate)\n· FY26 proforma production guidance remains at 19,000 boepd - 21,000 boepd\n \nFinancial\n \nAs at 31 December 2025:\n \n· Cash, inc...